DEVELOP GLOBAL LIMITED — Interim / Quarterly Report 2014

Jul 29, 2014

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ASX Announcement
ASX Code: VXR
Released: 30 July 2014
For further details
Michael Mulroney
Managing Director
T: +61 8 6389 7400
michael.mulroney@venturexresources.com
Board
Tony Kiernan
Chairman
Michael Mulroney
Managing Director
Ray Parry
Non-Executive Director
John Nitschke
Non-Executive Director
Trevor Hart
Company Secretary
Contact Details
Registered Office
Level 2
91 Havelock Street
West Perth WA 6005
T: +61 8 6389 7400
F: +61 8 9463 7836
admin@venturexresources.com
www.venturexresources.com
ABN: 28 122 180 205
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QUARTERLY ACTIVITIES REPORT FOR PERIOD ENDED 30 June 2014

Highlights

• Sale of Whim Creek Hotel and adjacent Accommodation Village completed

• Exploration defines targets at May’s Find and at the LibertyIndee Joint Venture area.

• Discussions continue on opportunities to advance the Project’s development

• Company cash and receivables on hand of $3.7 million

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EXPLORATION

PILBARA

During the quarter, the Company focussed on regional exploration in the Whim Creek Project areas.

At May’s Find, south of the Mons Cupri deposit, field programs defined zones of anomalous geochemistry in within a “Mons Cupri style” setting.

Interpretation of the new geophysical and geochemical data acquired across the Salt Creek-Balla Balla area within the Whim Creek project continued.

Within the Liberty Indee Joint Venture tenements, geological mapping and ground magnetic surveys completed over the south-eastern corner of the main tenement (E47/1209) located extensions to the Donkey Well prospect.

An initial field program was completed around the historic gold-antimony workings within the Sherlock tenement (E47/1796).

WHIM CREEK EXPLORATION

May’s Find

Field activities concentrated along the Mays Find trend, located 5 kilometres southwest of the Mons Cupri deposit. Mapping and rock chip sampling was completed along the length of the prospect area that has outcropping exposures of possible “Mons Cupri-equivalent” geology.

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Figure 1: Whim Creek - Prospect Locations

The prospective geological zone was rock chip sampled systematically with samples submitted for multi-element pathfinder analysis to outline potential alteration vectors towards a blind mineralised system. Assay results have outlined several discrete anomalous halo zones associated with historical copper and zinc soil anomalies adjacent to the sediment-volcanic contact.

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Figure 2: May’s Find - Sb rock chip results on zinc soil geochemistry

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Figure 3: May’s Find - Sb rock chip results on copper soil geochemistry

Further regional rock chip sampling and geophysical programs will be undertaken to define future drilling targets in this area.

Salt Creek

The new multi-element geochemical and spectral data has been combined with existing geophysical data for analysis by the Company’s consultants. This review is generating a revised geological and targeting model for existing and potential new zones of mineralisation within the Salt Creek volcano-sedimentary belt. First results are being assessed and are being compiled onto the regional GIS platform.

In parallel, a review of drilling and geological data for the Balla Balla prospect has been completed with future drilling targets being identified and prioritised. Previous drilling at Balla Balla has intersected widespread zones of zinc-lead-copper mineralisation (Figure x) that remain open in several directions. Planning for a future RC/DD drilling program to extend the mineralisation is underway.

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Figure 4: Balla Balla Prospect - Long section with outline of existing mineralisation with potential extensions.

The review of the adjacent ACL and West Balla prospect areas is underway to identified and prioritised future drilling targets.

LIBERTY-INDEE JOINT VENTURE (70%)

Sherlock

The Sherlock tenement E47/1796, located 31 kilometres south-west of Whim Creek, covers the historic Sherlock Au-Sb prospect located on the banks of the Sherlock River. Historical rock chip sampling of thin quartz veins in a series of parallel north-south trending shear zones and surrounding altered host rocks has previously returned moderate to high gold and antimony values.

Regional mapping completed during the quarter revealed the presence of a broad alteration zone surrounding the exposed mineralised shear zone is more extensive than

originally indicated. Future work will focus on further mapping and geochemical sampling to determine the potential of the area as a gold exploration target.

Liberty-Indee Project

Exploration at the Liberty Indee-Project area focussed on the extension of detailed geological mapping and ground magnetic survey coverage of the main tenement (E47/1209).

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Quarmby
Donkey Well
New alteration zone
Evelyn
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Figure 5 - Liberty-Indee E47/1209 – Regional Geology with ground magnetic TMI image overlay

The detailed ground magnetic survey consisted of an additional 126 lines totalling approximately 90 line kilometres covering the area from Quarmby southwards to the Donkey Well prospect ( Figure 5 - Liberty-Indee E47/1209 – Regional Geology with ground magnetic TMI image over .

The ground magnetic survey combined with regional mapping has defined a westward extension of the Donkey Well prospect alteration halo across a series of faults associated with the exposed copper mineralisation in the Donkey Well area. The ground magnetic data is currently being processed and combined with existing airborne VTEM geophysical results for interpretation by the Company’s consultants.

Pilbara Cu-Zn Project Development

General

Activity for the quarter focussed on continuing ongoing discussions with interested groups on opportunities to advance the Project’s development as part of the Company’s drive to commercialise the Pilbara Copper – Zinc Project during 2014.

The process is being advanced as the medium term outlook for growth in both copper and zinc consumption and pricing continues to strengthen.

BRAZIL

Gold Exploration

Venturex is exploring for large gold deposits in Brazil through its wholly owned subsidiary, CMG Mineração Ltda (CMGM). Field activities during the quarter were minimal due to heavy unseasonal rain in project areas.

The Company is continuing to seek joint venture opportunities to advance the exploration of the Brazilian tenements.

CORPORATE

Finance

The Company entered into a binding sale agreement for the sale of the Whim Creek Hotel and adjacent Accommodation Village complex in December 2013.

The Whim Creek Hotel, the accommodation village, associated plant and equipment and underlying land title (Lot 58) have been sold to private investment company, Whim Creek Operations Pty Ltd representing a consortium of the Ngarluma Aboriginal Corporation (NAC) and Ngarluma Yindjibarndi Foundation (NYF) based in the Karratha region, for a total of $1.7 million cash.

The Company has completed the sale of the Whim Creek Hotel and adjacent Accommodation Village complex immediately post the end of the quarter on 3 July 2014 ( please refer to ASX announcement dated 3 July 2014 ).

Securities Information

The issued capital of the Company is 1,547,869,181 ordinary fully paid shares and 36,000,000 unlisted options with various expiry dates.

Financial Information

The Company’s net cash position and receivables as at 30 June 2014 was ~$3.7 million and it has no debt.

The outstanding receivables totaling approximately $2.5 million were received in the first week of July 2014. They consisted of $1.6 million from the sale of the Whim Creek Hotel and $0.9 million from an ATO R&D Tax Incentive Refund for the 2012/13 year.

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MICHAEL MULRONEY Managing Director

For further information, please contact:

Michael Mulroney / Trevor Hart – Venturex Resources Limited on (08) 6389 7400 Tony Dawe – Professional Public Relations on 0405 989 743 / (08) 9388 0944

About Venturex Resources Limited

Venturex Resources Limited (ASX: VXR) is an exploration and development company with a significant portfolio of VMS projects in the Western Pilbara. Venturex owns or controls significant resources of copper, zinc, lead, silver and gold at Sulphur Springs, Kangaroo Caves, Whim Creek, Mons Cupri, Salt Creek and Liberty‐Indee. The Company is committed to a strategy of consolidating VMS projects in the Western Pilbara and developing a centralised processing hub at Sulphur Springs. Venturex is also exploring for gold in Brazil through its wholly owned subsidiary CMG Mineração Ltda.

Competency Statements

The information in this report that relates to Exploration Results, Mineral Resources and Ore Reserves is based on information compiled or reviewed by Mr Michael Mulroney and Mr Steven Wood who are Members of the Australasian Institute of Mining and Metallurgy. Mr Mulroney and Mr Wood are full time employees of Venturex Resources Limited and have sufficient experience relevant to the style of mineralisation, type of deposit under consideration and to the activity being undertaking to qualify as Competent Persons as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Mulroney and Mr Wood consent to the inclusion in the report of the matters based on their information in the form and context in which it appears.

Summary of Assessment and Reporting Criteria

As per the 2012 JORC guidelines, the following summary of information used in these exploration results is provided below (JORC Compliance Table: Sections 1 and 2 are included in the Appendix).

The May’s Find Prospect in the Whim Creek area is contained within the Mons Cupri Volcanics, a volcano-sedimentary sequence within the north – north-easterly trending Whim Creek Belt in the western portion of the Archaean Pilbara Craton.

The May’s Find Prospect is located wholly within E47/976 and Venturex Resources Limited has a 100% interest in the tenement. The tenement is within the granted Ngarluma Native Title area.

The current rock chip sampling at May’s Find was completed in conjunction with field mapping.. Sample spacing is variable due to availability of outcrop. All sample site were located using differential GPS (DGPS).

Samples were weighed, dried, crushed and pulverised (total prep) to produce a pulp sub-sample for analysis by four acid digest with an ICP/OES, ICP/MS or FA/AAS (Au) finish. Multi-element and trace element assaying is conducted routinely for a suite of economic and rock forming elements.

All reported assays have been length weighted. No top cuts have been applied.

The prospect dips generally to the east at approximately 45-55 degrees. The sampling points are representative of the outcrop geology surveyed.

Future work at the May’s Find Prospect will include additional regional rock chip sampling and geophysical programs to define future drilling targets in this area.

INTERESTS IN MINING TENEMENTS

AREA OF INTEREST	TENEMENTS	GROUP ENTITY’S INTEREST	ACQUIRED DURING QUARTER	DISPOSED DURING QUARTER
WESTERN AUSTRALIA
Liberty-Indee Project	E47/1209	70% (90%on decision to mine)
	E47/1796	70% (90%on decision to mine)
	M47/1455	70% (90%on decision to mine)
Whim Creek Project	E47/976	100%
	M47/236	100%
	M47/237	100%
	M47/238	100%
	M47/443	100%
	L47/36	100%
	GLA47/1233	0%		100%
Mt Satirist Project	E47/2674	100%
Salt Creek Project	E47/924	100%
	E47/1088	100%
	M47/323	100%
	M47/324	100%
Sulphur Springs Project	M45/494	100%
	M45/587	100%
	M45/653	100%
	M45/1001	100%
	L45/166	100%
	L45/170	100%
	L45/173	100%
	L45/179	100%
	L45/188	100%
	L45/189	100%
	L45/287	100%
Panorama Project	P45/2607	100%
	P45/2609	100%
	P45/2610	100%
	P45/2611	100%
	P45/2612	100%
	P45/2613	100%
	P45/2614	100%
	P45/2616	100%
	P45/2910	100%
	P45/2911	100%
BRAZIL
Jatobá	EL 866020/2007	100%CMGM
Rio Pombo	EL 866238/2008	100%CMGM
	ELA 867034/2011	100%CMGM
	ELA 867035/2011	100%CMGM
	ELA 867138/2012	100%CMGM
Nova Canaã(Colider)	EL 866718/2008	100%CMGM
	EL 866719/2008	100%CMGM
	EL 866820/2008	100%CMGM
Tanque Fundo	EL 866239/2008	100%CMGM
	EL 867376/2008	100%CMGM
	EL 867377/2008	100%CMGM
Castelo de Sonhos	EL 850172/2010	100%CMGM
Serra Verde	EL 850564/2007	100%CMGM
	EL 850359/2006	100%CMGM
	ELA 850353/2011	100%CMGM
	EL 850173/2010	100%CMGM
	ELA 851046/2014	100%CMGM
	ELA 850413/2012 to ELA 850428/2012	100%CMGM
	ELA 850851/2011 to ELA 850884/2011	100%CMGM
Grande Canaã	EL 850076/2011 to EL 850079/2011	100%CMGM
	ELA 851270/2011	100%CMGM
	ELA 851272/2011	100%CMGM
KL	EL 850080/2011 to EL 850082/2011	100%CMGM
	ELA 851273/2011 to ELA 851275/2011	100%CMGM
	ELA 851277/2011 to ELA 851278/2011	100%CMGM
Hollywood	EL 850083/2011	100%CMGM

JORC COMPLIANCE TABLE – MAY’S FIND PROSPECT

Section 1 Sampling Techniques and Data

(Criteria in this section apply to all succeeding sections.)

Criteria	JORC Code Explanation	Commentary
Sampling techniques	 Nature and quality of sampling (e.g. cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc.). These examples should not be taken as limiting the broad meaning of sampling.  Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used.  Aspects of the determination of mineralisation that are Material to the Public Report.  In cases where ‘industry standard’ work has been done this would be relatively simple (e.g. ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types(e.g. submarine nodules) may warrant disclosure of detailed information.	 Surface rock chip samples are collected from in-situ material only. Samples collected are ~3 kg in weight.  Samples were weighed, dried, crushed and pulverised (total prep) to produce a pulp sub-sample for analysis by four acid digest with an ICP/OES, ICP/MS or FA/AAS (Au) finish.
Drilling techniques	 Drill type (e.g. core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc.) and details (e.g. core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is _oriented and if so, by what method, etc.). _	 NA.
Drill sample recovery	 Method of recording and assessing core and chip sample recoveries and results assessed.  Measures taken to maximise sample recovery and ensure representative nature of the samples.  Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.	 NA
Logging	 Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies.  Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc.) photography.  The total length andpercentage of the relevant intersections logged.	 Surface sample logging includes rock type, weathering, mineralization and structural data.  Logging was at an appropriate detailed quantitative standard to support future geological and resource estimations.

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Sub-sampling techniques and sample preparation	 If core, whether cut or sawn and whether quarter, half or all core taken.  If non-core, whether riffled, tube sampled, rotary split, etc. and whether sampled wet or dry.  For all sample types, the nature, quality and appropriateness of the sample preparation technique.  Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples.  Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second-half sampling.  Whether sample sizes are appropriate to the grain size of the material being sampled.	 The sample preparation of the samples follows industry best practice in sample preparation involving weighing, oven drying, pulverisation of the entire sample (total prep) to a grind size of 85% passing 75 micron.  Venturex has QAQC procedures involving the use of certified standards, blanks and duplicates.  No field duplicates have been taken.  The sample sizes are considered appropriate given the relatively fine grained nature of the sulphide mineralisation which is not nuggetty in nature, the sampling methodology and the assay value ranges involved.
Quality of assay data and laboratory tests	 The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total.  For geophysical tools, spectrometers, handheld XRF instruments, etc., the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc.  Nature of quality control procedures adopted (e.g. standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (i.e. lack of bias) andprecision have been established.	 Analytical techniques involving a four acid digest multi-element suite with ICP/MS finish (30g FA/AAS for precious metals). The acids used are hydrofluoric, nitric, perchloric and hydrochloric acids, suitable for the dissolution of most silica based samples. The method approaches total dissolution of most minerals. Combustion furnace or Eltra “Leco” analyser assayed total sulphur.  No geophysical tools were used to determine any element concentrations reported.
Verification of sampling and assaying	 The verification of significant intersections by either independent or alternative company personnel.  The use of twinned holes.  Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols.  Discuss any adjustment to assay data.	 NA  Primary data is collected in paper hardcopy format using a set of standard Excel templates, then entered into a digital geological log spread sheet and sent to the Perth office. The digital logging data is then validated by an in- house database consultant and merged into the companies SQL database, any validation issues at this stage are communicated and rectified by the supervising geologist. Full copies are stored offsite.
Location of data points	 Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation.  Specification of the grid system used.  Quality and adequacy of topographic control.	 All trenches, sample sites, mine workings and other topographic features are located by handheld GPS. New locations measured are confirmed by plotting and viewing in reference to other known locations.  The grid system used for the location of all drill holes is MGA_GDA94, Zone 50.  Topographic control is provided by combination of external survey control, photogrammetryanalysis and DGPS reading.
Data spacing and distribution	 Data spacing for reporting of Exploration Results.  Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied.  Whether sample compositing has been applied.	 The data spacing and distribution is suitable for exploration purposes. It is not sufficient to establish a Mineral Resource or Ore Reserve estimation.  Sample compositing is not undertaken.
Orientation of data in relation to geological structure	 Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type.  If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.	 Sample points were generally oriented near perpendicular to the regional trend.  NA
Sample security	 The measures taken to ensure sample security.	 The chain of custody is managed by Venturex. The samples are transported by Venturex personnel to Whim Creek, stored in a secure facility and collected from site by Toll IPEC and delivered to the assay laboratory in Perth.  Online trackingis utilised to track theprogress of batches of samples.

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Audits or reviews	 The results of any audits or reviews of sampling techniques and data.	 The data is subject to standard internal reviews and data validation by the supervising geologist and data base manager.  No independent audits of the sampling techniques and data have been completed.

Section 2 Reporting of Exploration Results

(Criteria listed in the preceding section also apply to this section.)

Criteria	JORC Code Explanation	Commentary
General tenement and land tenure status	 Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings.  The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area.	 The May’s Find Prospect is located wholly within Exploration Licence E47/976 and Venturex Resources Limited has a 100% interest in the tenement.  The tenement is within the Ngarluma Native Title Area.  The tenement is in good standing and no known impediments exist.
Exploration done by other parties	 Acknowledgment and appraisal of exploration by other parties.	 Previous regional exploration has been conducted in the May’s Find area by Whim Creek Consolidated, Dominion Mining and Duval Minerals since 1968.
Geology	 Deposit type, geological setting and style of mineralisation.	 The target style of mineralisation s similar to the Mons Cupri copper-zinc-lead deposit.  The Mons Cupri copper-zinc-lead deposit is hosted by the Mons Cupri Volcanics is a complex sequence of felsic volcanic, volcanoclastic and epiclastic sedimentary rock and felsic intrusive bodies within the north – northeasterly trending Whim Creek belt in the western Pilbara Craton.  The deposit is an example of an Archaean volcanogenic massive sulphide (VMS) style deposit in a low-grade metamorphic terrain.
Drill hole Information	 A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes: o easting and northing of the drill hole collar o elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar o dip and azimuth of the hole o down hole length and interception depth o hole length.  If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case.	 NA
Data aggregation methods	 In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (e.g. cutting of high grades) and cut-off grades are usually Material and should be stated.  Where aggregate intercepts incorporate short lengths of high grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be	 All reported assays have been length weighted.  No top cut has been applied.

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	shown in detail.  The assumptions used for any reporting of metal equivalent values should be clearly stated.
Relationship between mineralisation widths and intercept lengths	 These relationships are particularly important in the reporting of Exploration Results.  If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported.  If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (e.g. ‘down hole length, true width not known’).	 NA
Diagrams	 Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views.	 Refer Figure2 2 and 3.
Balanced reporting	 Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results.	 All results are reported.
Other substantive exploration data	 Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances.	 NA
Further work	 The nature and scale of planned further work (e.g. tests for lateral extensions or depth extensions or large-scale step-out drilling).  Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.	 Further regional rock chip sampling and geophysical programs will be undertaken to define future drilling targets in this area.

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Appendix 5B Mining Exploration Entity Quarterly Report

Rule 5.3

Appendix 5B – 4th Quarter 2014

Mining Exploration Entity Quarterly Report

Introduced 1/7/96. Origin: Appendix 8. Amended 1/7/97, 1/7/98, 30/9/2001, 01/06/10, 17/12/10.

Name of Entity:

Venturex Resources Limited (ASX Code: VXR)

ABN: 28 122 180 205	Quarter Ended ('Current Quarter')
28 122 180 205	30 June 2014

Consolidated Statement of Cash Flows

		Current Quarter $A’000	Year to Date (12 months) $A’000
1.1 1.2 1.3 1.4 1.5 1.6 1.7	Cash Flows Related to Operating Activities Receipts from product sales and related debtors Payments for: (a) exploration and evaluation(1) (b) development (c) production (d) administration Dividends received Interest and other items of a similar nature received Interest and other costs of finance paid Taxes received (paid) Other -decrease (increase)inbankguarantees	- (516) - - (405) - 17 - - 5	- (3,166) - - (1,573) - 118 (1) 826 1,693
	Net Operating Cash Flows	(899)	(2,103)
1.8 1.9 1.10 1.11 1.12	Cash Flows Related to Investing Activities Payment for purchases of: (a) prospects (b) equity investments (c) other fixed assets Proceeds from sale of: (a) prospects (b) equity investments (c) other fixed assets Loans to other entities Loans repaid by other entities Other	- - (5) - - - - - -	- - (39) - - 36 - - -
	Net Investing Cash Flows	(5)	(3)
1.13	Total Operating and Investing Cash Flows (carriedforward)	(904)	(2,106)

Venturex Resources Limited has five controlled entities incorporated in Australia, (Venturex Pilbara Pty Ltd, Venturex Sulphur Springs Pty Ltd, Jutt Resources Pty Ltd, Juranium Pty Ltd and CMG Gold Ltd) and one controlled entity incorporated in Brazil, CMG Mineração Ltda. The Consolidated Statement of Cash Flows covers Venturex Resources Limited and its controlled entities.

• See chapter 19 for defined terms.

17/12/2010 Appendix 5B Page 1 of 6

Appendix 5B Mining Exploration Entity Quarterly Report

		Current Quarter $A’000	Year to Date (12 months) $A’000
1.13 Total Operating and Investing Cash Flows (brought forward)		(904)	(2,106)
1.14 1.15 1.16 1.17 1.18 1.19	Cash Flows Related to Financing Activities Proceeds from issues of shares, options, etc. Proceeds from sale of forfeited shares Proceeds from borrowings Repayment of borrowings Dividends paid Other –Capital raising costs	- - - - - -	- - - - - -
	Net Financing Cash Flows	-	-
1.20 1.21	Net Increase / (Decrease) in Cash Held Cash at beginning of quarter/year to date Exchange rate adjustments to item 1.20	(904) 2,063 -	(2,106) 3,265 -
1.22	Cash at End of Quarter(2)	1,159	1,159

~~(1)~~ Actual exploration and evaluation includes $35k for the Feasibility Study (YTD $246).

(2)At 30 June 2014 Venturex Resources Ltd had $74k utilised to cash back environmental bonds and rental guarantees that does not appear in the cash flow

Payments to Directors of the Entity and Associates of the Directors

Payments to Related Entities of the Entity and Associates of the Related Entities

1.23 1.24 1.25	Aggregate amount of payments to the parties included in item 1.2 Aggregate amount of loans to the parties included in item 1.10 Explanation necessary for an understanding of the transactions	Curent Quarter $A'000
		133
		-
	Item 1.23 includes aggregate salaries, directors’ fees, corporate advisory & consulting fees at normal commercial rates

Non-Cash Financing and Investing Activities

2.1 Details of financing and investing transactions which have had a material effect on consolidated assets and liabilities but did not involve cash flows As per the ASX announcement dated 3 July 2014, the company has finalised the sale of the Whim Creek Hotel with full settlement received on the 3 July 2014.

• 2.2 Details of outlays made by other entities to establish or increase their share in projects in which the reporting entity has an interest -

• See chapter 19 for defined terms.

17/12/2010 Appendix 5B Page 2 of 6

Appendix 5B Mining Exploration Entity Quarterly Report

Financing Facilities Available

Add notes as necessary for an understanding of the position.

	Amount Available $A’000	Amount Used $A’000
3.1 Loan facilities	-	-
3.2 Credit standby arrangements	-	-

Estimated Cash Outflows for Next Quarter

	$A’000
4.1 Exploration and evaluation 4.2 Development 4.3 Production 4.4 Administration	500
	-
	-
	350
Total:	850

Reconciliation of Cash

	Reconciliation of cash at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts is as follows.	Current Quarter $A’000	Previous Quarter $A’000
	5.1 Cash on hand and at bank 5.2 Deposits at call 5.3 Bank overdraft 5.4 Other (provide details)	659	563
		500	1,500
		-	-
		-	-
	Total: Cash at End of Quarter(item 1.22)	1,159(4)(5)	2,063(4)

(4)At 30 June 2014 Venturex Resources Ltd had $74k utilised to cash back environmental bonds and rental guarantees that

does not appear in the cash flow.

(5) As at 7 July 2014 the cash on hand was $3.7 million as result of the completion of the Sale of the Whim Creek Hotel and the receipt of a 2012-13 R&D Tax Incentive refund.

• See chapter 19 for defined terms.

17/12/2010 Appendix 5B Page 3 of 6

Appendix 5B Mining Exploration Entity Quarterly Report

Changes in Interests in Mining Tenements

6.1 6.2		Tenement Reference	Nature of Interest (note 2)	Interest at Beginning ofQuarter	Interest at End of Quarter
	Interests in mining tenements relinquished, reduced or lapsed
	Interests in mining tenements acquired or increased	Jatoba 866020/2007 Tanque Fundo 866239/2008 867376/2008 867377/2008 Serra Verde 850359/2006 Rio Pombo 867138/2012 867425/2014	Extensions Granted Extensions Granted Extensions Granted Extensions Granted Transfer Gazetted Application Relinquished Application Pending to replace 867138 /2012	100% 100% 100% 100% 100% 100% -%	100% 100% 100% 100% 100% - 100%

• See chapter 19 for defined terms.

17/12/2010 Appendix 5B Page 4 of 6

Appendix 5B Mining Exploration Entity Quarterly Report

Issued and Quoted Securities at End of Current Quarter

Description includes rate of interest and any redemption or conversion rights together with prices and dates.

	Total Number	Number Quoted		Issue Price Per Security (cents) (see note 3)	Amount Paid Up Per Security (cents) (seenote 3)	Amount Paid Up Per Security (cents) (seenote 3)
7.1 Preference+Securities (Description)	-	-
7.2 Changes During Quarter (a) Increases through issues (b) Decreases through returns of capital, buy- backs,redemptions
7.3 +Ordinary Securities	1,547,869,181	1,547,869,181
7.4 Changes during quarter (a) Increases through issues (b) Decreases through returns of capital, buy- backs
7.5 +Convertible debt securities (Description)
7.6 Changes during quarter (a) Increases through issues (b) Decreases through securities matured, converted
7.7 Options (Description and Conversion Factor) VXRAS VXRAK VXRAU VXRAU	6,000,000 10,000,000 10,000,000 10,000,000	- - - -		Exercise Price 15 cents 12 cents 2.5 cents 3.5 cents	Expiry Date 5 Dec 2014 22 July 2015 1 Dec 2016 1 Dec2016
7.8 Issued during quarter				Exercise Price		Expiry Date
7.9 Exercised during quarter
7.10 Expired during quarter VXRAQ VXRAS	7,500,000 5,000,000	- -		Exercise Price 15 cents 15 cents		Expiry Date 5 Apr 2014 5 Apr 2014
7.11 Debentures (totals only)
7.12 Unsecured notes (totals only)

• See chapter 19 for defined terms.

17/12/2010 Appendix 5B Page 5 of 6

Appendix 5B Mining Exploration Entity Quarterly Report

Compliance Statement

1 This statement has been prepared under accounting policies which comply with accounting standards as defined in the Corporations Act or other standards acceptable to ASX (see note 5).

2 This statement does give a true and fair view of the matters disclosed.

Sign Here: ____ Company Secretary

Date: 30 July 2014

Print Name: Trevor Hart

Notes

• 1 The quarterly report provides a basis for informing the market how the entity’s activities have been financed for the past quarter and the effect on its cash position. An entity wanting to disclose additional information is encouraged to do so, in a note or notes attached to this report.

• 2 The “Nature of interest” (items 6.1 and 6.2) includes options in respect of interests in mining tenements acquired, exercised or lapsed during the reporting period. If the entity is involved in a joint venture agreement and there are conditions precedent which will change its percentage interest in a mining tenement, it should disclose the change of percentage interest and conditions precedent in the list required for items 6.1 and 6.2.

• 3 Issued and quoted securities The issue price and amount paid up is not required in items 7.1 and 7.3 for fully paid securities.

• 4 The definitions in, and provisions of, AASB 6: Exploration for and Evaluation of Mineral Resources and AASB 107: Statement of Cash Flows apply to this report.

• 5 Accounting Standards ASX will accept, for example, the use of International Financial Reporting Standards for foreign entities. If the standards used do not address a topic, the Australian standard on that topic (if any) must be complied with.

== == == == ==

• See chapter 19 for defined terms.

17/12/2010 Appendix 5B Page 6 of 6